He also lauded the withdrawal of withholding tax for filers, which could bring more people under the tax net as it was long-standing demand of the business community.
He said the government decision would enable business community to submit twice return of WHT in bank accounts instead of every month. He said the initiative is reflecting the Prime Minister Imran Khan's vision toward bringing ease of doing businesses in the country.
He added the business community strongly appreciated it. He also welcomed the relaxation of five years in customs duty on exported machinery and sale tax, besides abolishment of super tax on non-banking companies from July 01, agriculture loan, reduction in ratio of house financing loan from 39 percent to 20 percent, concession on wedding halls, reduction in duties on industrial raw materials, tax-exemption on renewal energy sector, relaxation of stock market, banning on purchase of 1300CC vehicle for non-filers, and initiatives for promotion of exports.
He said the recently announcement of business-friendly mini-budget is reflection of recommendations of the business community, presented during meetings with Prime Minister Imran Khan and Finance Minister Asad Umar.